Innovacorp

Innovacorp is the early-stage venture capital organization for the Province of Nova Scotia, Canada, established with the mandate to foster economic growth by investing in and supporting high-potential, knowledge-based startups. As a government-funded entity, it plays a crucial role in the region's innovation ecosystem, providing not just capital but also mentorship, incubation space, and strategic connections. Its primary mission is to accelerate the commercialization of Nova Scotia's innovative technologies and help them scale globally, thereby contributing to the province's economic diversification and job creation.

Innovacorp focuses on deep technology sectors, including clean technology, life sciences, information technology, and ocean technology. The firm typically invests at the pre-seed, seed, and Series A stages, targeting companies with proprietary technology and significant market potential. Their investment strategy extends beyond just providing capital; they offer a comprehensive suite of support services, including access to incubation facilities like Start-Up Yard at COVE, business advisory services, and connections to a network of industry experts and later-stage investors. This holistic approach aims to de-risk early-stage ventures and prepare them for subsequent funding rounds and market entry.

Innovacorp's typical initial venture capital investments range from $250,000 to $1 million through its seed fund, with the potential for follow-on investments up to a total of $3 million per company. This makes them a significant early-stage capital provider in the Atlantic Canadian region. Beyond direct investments, Innovacorp also manages smaller programs, such as the Early Stage Commercialization Fund, which can provide up to $100,000 for proof-of-concept work. Their extensive portfolio showcases a commitment to developing a robust tech sector in Nova Scotia, and their long-standing presence and consistent activity underscore their foundational role in the region's startup landscape.